Stryker Co. (NYSE:SYK) Shares Purchased by Ledyard National Bank

Ledyard National Bank boosted its stake in Stryker Co. (NYSE:SYK) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,881 shares of the medical technology company’s stock after acquiring an additional 152 shares during the period. Ledyard National Bank’s holdings in Stryker were worth $563,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH raised its holdings in shares of Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after purchasing an additional 952 shares during the period. Carnegie Capital Asset Management LLC raised its holdings in shares of Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after purchasing an additional 497 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares during the period. Consolidated Planning Corp acquired a new stake in shares of Stryker during the fourth quarter worth $205,000. Finally, Meritage Portfolio Management acquired a new stake in shares of Stryker during the fourth quarter worth $569,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on SYK shares. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and increased their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Roth Mkm increased their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Truist Financial increased their target price on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $340.67.

Stryker Trading Down 0.4 %

Shares of SYK traded down $1.22 during midday trading on Tuesday, hitting $337.65. The stock had a trading volume of 662,857 shares, compared to its average volume of 1,278,814. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The business has a 50-day simple moving average of $348.68 and a two-hundred day simple moving average of $316.14. The firm has a market cap of $128.47 billion, a P/E ratio of 41.09, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Insider Transactions at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 over the last three months. 5.50% of the stock is owned by corporate insiders.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.